EUR/USD Price Analysis: Solid support emerges around 1.2000

EUR/USD regains some composure and bounces off 1.2000.
Further recovery targets recent tops around 1.2150.

Pablo Piovano FXStreet

EUR/USD manages to rebound from recent lows in the vicinity of the psychological 1.2000 yardstick.

The continuation of the uptrend is expected to meet the next hurdle at monthly peaks at 1.2150 (April 29). If cleared, then the Fibo level at 1.2173 emerges as a minor resistance ahead of the February’s top at 1.2243.

Above the 200-day SMA (1.1937) the stance for EUR/USD is predicted to remain positive.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2048
Today Daily Change	44
Today Daily Change %	0.23
Today daily open	1.202

Trends
Daily SMA20	1.1991
Daily SMA50	1.1955
Daily SMA100	1.2055
Daily SMA200	1.1943

Levels
Previous Daily High	1.2127
Previous Daily Low	1.2017
Previous Weekly High	1.215
Previous Weekly Low	1.2017
Previous Monthly High	1.215
Previous Monthly Low	1.1713
Daily Fibonacci 38.2%	1.2059
Daily Fibonacci 61.8%	1.2085
Daily Pivot Point S1	1.1982
Daily Pivot Point S2	1.1945
Daily Pivot Point S3	1.1872
Daily Pivot Point R1	1.2092
Daily Pivot Point R2	1.2164
Daily Pivot Point R3	1.2202

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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